Latest Stock Market News

Auto components major Bharat Forge Ltd on Wednesday reported a 16.38 per cent decline in consolidated net profit at Rs 212.78 crore in the third quarter ended December 31, 2024, impacted by lower revenue.

Suven Pharma, backed by Advent, reported a 78% year-on-year rise in net profit to Rs 83.3 crore for Q3FY25 driven by strong demand and business development efforts. Revenue grew 40% to Rs 307.2 crore, led by a surge in CDMO business. The company also advanced several molecules to Phase 3 trials and added a new strategic customer.

Ajax Engineering IPO: Before its IPO opening, Ajax Engineering raised Rs 379 crore from anchor investors by allotting 60.3 lakh shares at the upper price band. Ahead of listing, its shares traded at a Rs 17 GMP in the unlisted market, reflecting a 2.7% premium over the Rs 629 upper price band. The IPO price range is set at Rs 599-629 per share, with a minimum lot size of 23 shares.

PN Gadgil Jewellers Q3 Results: P N Gadgil Jewellers reported a 49.4% YoY profit growth in Q3 FY25, reaching ₹86 crore. Revenue rose 23.5% to ₹2,435.7 crore, driven by strong retail, e-commerce, and franchise performance, alongside aggressive showroom expansion.

Discount brokers maintained their dominance, with Groww, Zerodha, and Angel One leading in investor additions.

Sebi on Wednesday issued a draft circular proposing amendments to its margin pledge system to prevent the possible misuse of clients securities by brokers. These changes aim to enhance transparency and reduce systemic risks associated with clients securities.

A 52-week low marks a stock s lowest price over the past year. It may suggest buying opportunities for strong stocks or reflect company challenges.

The MSCI reshuffle adds Hyundai Motor India while removing Adani Green Energy, impacting fund flows. IndusInd Bank is set to gain $264 million in passive inflows, while Hyundai’s inclusion may attract $257 million, per Nuvama estimates. Meanwhile, Adani Green’s exclusion could trigger outflows of approximately $170 million.

NATCO Pharma Ltd on Wednesday reported a 37.75 per cent decline in consolidated net profit to Rs 132.4 crore in the December quarter, hit by a drop in formulations exports.